A week after the first load of coal arrives at the Wiggins Island Coal Export Terminal, dozers and trucks begin to move the coal to bed down the stockyard.
Photo Mara Pattison-Sowden / The ObserverMara Pattison-Sowden

WICET's $3.5b debt casts 'significant doubt' on its future

WIGGINS Island Coal Export Terminal has admitted there is "significant doubt" in its ability to remain viable if it does not find a solution for its $3.5 billion debt.

Glencore and the four other remaining owners of WICET need to repay or restructure the debt within nine months.

Bids to restructure the debt with 19 lenders have been unsuccessful so far, and the company said in its annual statement if a solution was not found it had "material uncertainty" in its ability to continue operating at a profit.